The present disclosure relates to methods for managing funds transferals and, in particular, funds transferals involving virtual wallets.
There are presently many methods for performing financial transactions such as purchase transactions. One recently developed method involves the use of digital or virtual wallets. Even though virtual wallets have only been available for a short period of time, their adoption rate has been rapid at least in part due to the penetration of smartphones that provide the platform from which most virtual wallets operate.
However, various virtual wallets are incompatible with each other, such that transfers between wallets are prevented. Also, virtual wallets are often only useable online.